Arcadia Investment Management Corp MI cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,201 shares of the coffee company's stock after selling 3,474 shares during the quarter. Starbucks comprises 2.2% of Arcadia Investment Management Corp MI's portfolio, making the stock its 16th largest position. Arcadia Investment Management Corp MI's holdings in Starbucks were worth $11,987,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust boosted its position in shares of Starbucks by 0.9% during the first quarter. Greenleaf Trust now owns 32,545 shares of the coffee company's stock worth $3,192,000 after purchasing an additional 300 shares in the last quarter. Trek Financial LLC bought a new position in shares of Starbucks during the first quarter worth $1,499,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Starbucks by 11.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 432,452 shares of the coffee company's stock worth $42,049,000 after acquiring an additional 43,395 shares during the period. Personal CFO Solutions LLC raised its holdings in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after acquiring an additional 5,151 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in Starbucks by 1.4% in the 1st quarter. Valeo Financial Advisors LLC now owns 62,125 shares of the coffee company's stock valued at $6,094,000 after buying an additional 887 shares during the last quarter. 72.29% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on SBUX shares. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. BMO Capital Markets decreased their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating and issued a $108.00 price target (up from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $98.73.
View Our Latest Stock Analysis on SBUX
Starbucks Trading Down 0.2%
Shares of SBUX traded down $0.21 during mid-day trading on Friday, reaching $94.94. The company's stock had a trading volume of 6,339,055 shares, compared to its average volume of 10,856,662. The stock has a market cap of $107.89 billion, a PE ratio of 34.40, a P/E/G ratio of 4.88 and a beta of 1.02. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The company's fifty day moving average price is $88.90 and its two-hundred day moving average price is $94.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.
Starbucks Profile
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Free Report)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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